vat on food

[dove]

Im hoping to take over a cafe that is already up an running, however, they are not vat registered. I know that there is a limit that you have to take before you register for vat, though I have now heard that all HOT food should be vat accountable. Does any one know more about this please?

[dzug]

Hot food is only VAT accountable if you are VAT registered - if you are below the threshold (sorry don't know what it is) you don't have to register just to sell hot food.

[dove]

thankyou soooooooo very much for that reply.... my future is dependable on it. Cheers x

[whitbybabe]

�60.000. Sure I'm right.

[dove]

hope ur both right.
Obviously will be getting the solicitors involved (not with your answers lol)
but am hoping ur replies are gonna stand me in good stead x

[whitbybabe]

Good luck , and do let us all know how you get on.

[tull456]

Although your might be below the VAT threshold you are able to register for Voluntary VAT registration

[dove]

In A pickle> fantastic link, thank you very much.
whitby babe> thanks for your good wishes, its alot more complicated than I thought it would be!
tull 456>thanks..

[jennyp]

If the present owners are not vat registered leave that can of worms unopened. I certainly would not voluntarily register - Most of the food you buy will not have vat on it. So you won't have a lot to claim on. 17.5% is a lot out of your profit.

[ACB312]

My wife is a VAT officer. You only have to register once you reach the current turnover limit. You can find out any info on the revenue and customs website - www.hmrc.co.uk or get back to me if you need any further info. Hope this helps. Andy

[dove]

thanks andy, you can almost bank on me getting back to u soon. x
the partner i am supposed to be going into business with.... is not answering her phone, maybe its all over, before its started. :-(

[dove]

thanks jennyp, In a pickles link helped alot , but many thanks for answering x